$BTC $1000SATS $SAGA

Signals suggest that BTC may have bottomed at $53,000

Since the beginning of July, the Crypto market has witnessed a series of unpredictable fluctuations, making investors wonder what the upcoming trend will be like. 

As of the morning of July 8, BTC is currently trading around 55,400 USD - down 5% in the past 24 hours. Except for 3 coins that increased strongly over 10%, ELF, SAGA & SATS, most Altcoins were in the red. 

 Although BTC continues to show signs of strong volatility after breaching critical support at $60,000, experts still believe that BTC can recover for the following 5 reasons:

 RSI index hits the oversold threshold (Oversold): BTC's recent decline has caused the RSI index on the daily frame to breach the 30 mark (oversold). Besides, BTC price has also shown a positive divergence signal

raises expectations that BTC will soon reverse its downtrend.

Expectations for FED to cut interest rates: According to CME Fed Watch, traders are expecting the FED to cut interest rates up to 2 times in 2024, expected in September & December. This promises to help the flow of money. money poured into investment markets such as Crypto & Stocks.